Altana, a NYC-based provider of a value chain management system, raised $200m in Series C funding.
The round was led by Thomas Tull’s US Innovative Technology Fund (USIT) with participation from March Capital, Generation Investment Management, Salesforce Ventures, Friends and Family Capital, and each of Altana’s key existing investors, including GV (Google Ventures), Activate Capital, Floating Point, and OMERS Ventures. The funding brings Altana’s valuation to $1 billion.
The company intends to use the funds to accelerate product development to power AI-driven, collaborative workflows on top of its data platform, enabling the public and private sectors to collaboratively manage security, procurement, compliance, global trade, sustainability, and more across multi-tier value chains.
Founded in 2019 by Evan Smith, Peter Swartz, and Raphael Tehranian, Altana provides a value chain management system, a collaborative, public-private network that enables customers to take command of their extended supplier and distribution networks – from raw material origins to the sale of finished products. By applying artificial intelligence to the world’s largest body of supply chain data, Altana reveals these previously opaque global networks and powers workflows across them. Customers like Boston Scientific, L.L.Bean, Maersk, US Customs and Border Protection, and the UK Department of Business and Trade use Altana to build their global value chains.
FinSMEs
29/07/2024